Instuitional Investor - Cavalier Investments

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Invesco Qqq TrCALLCALL		1,300,000	$750,334,000	20.28%
2.	Invesco Qqq TrPUTPUT		1,250,000	$721,475,000	19.5%
3.	Spdr S & P 500 Etf TrustPUT	SPY	830,000	$539,782,200	14.59%
4.	Spdr S & P 500 Etf TrustCALL	SPY	600,000	$390,204,000	10.55%
5.	Market Vectors Etf TrustCALL	GDX	257,700	$98,802,180	2.67%